Prime Insurance Company Product Protects Arrested Suspects

PRODUCT: Legal liability coverage for the incarcerated

COMPANY: Prime Insurance Company

BEST RATING: A- (Excellent)

AVAILABILITY: Coverage is available on an open-brokerage basis.

FOCUS: How many innocent people are in prison? There’s not enough research on the subject, but innocenceproject.org says some studies indicate as many as 2.5-5% of U.S. prisoners are innocent. At only 1%, more than 20,000 innocent people are in prison, according to the organization.

Prime Insurance Company now offers a product that protects policyholders if they find themselves arrested under suspicion of committing a serious crime. The excess and surplus lines insurance carrier provides specialty liability insurance coverage throughout the country, particularly solutions for hard-to-place risks that few or no other carriers provide, says Barbara Malkowski, senior vice president of marketing.

“This is an insurance policy that will really be a partner to you in the event you are arrested,” Malkowski says. “You’re making the most of the first call. Many people, especially those who carry concealed weapons or have firearms, get into situations where they are arrested for an incident—whether it be a sporting accident, an act of self-defense or property protection.”

The policy provides bail funding and a criminal defense retainer, as well as compensation while in court, civil suit damage protection and expert witness coordination.

UNDERWRITING: Limits range from $25,000 to $1 million. Policyholders have access to Prime Insurance Company’s emergency hotline 24 hours a day, seven days a week. If they find themselves detained, they can call the hotline and secure the cash necessary to pay the bail. Family members can also be covered.

Prime Insurance Company offers several custom liability policies, such as a firearm legal protection policy. More Americans are carrying guns, whether it’s for self-defense, to protect their homes or for sport. Those who have firearms or carry concealed weapons may be arrested for an incident involving a firearm. Legal liability insurance covers risks and liabilities imposed by criminal arrests. Policyholders will be covered for costs such as bail bonds and fees for legal representation.

Traditional policies either limit or exclude coverage involving firearms. Malkowski says the firearm legal protection policy fills gaps in those traditional insurance policies, whether it’s a homeowners policy or business insurance.

MINIMUM PREMIUM: There is no minimum premium, but a legal liability policy can start at about $1 a day.

TARGET: No specific target. Policy is particularly good for gun owners.

COVERAGE TERRITORY: All U.S. states.

CONTACT: Barbara Malkowski, senior vice president of marketing; Prime Insurance Company; 312-884-5801

Ronimarie Acord is an IA contributor.